Real Estate Math
A home sold for $340,000. The seller agreed to pay 3% of the sale price toward buyer's closing costs. How much did the seller contribute toward closing costs?
A$10,200✓ Correct
B$12,000
C$34,000
D$3,400
Explanation
Seller's closing cost contribution = $340,000 × 3% = $340,000 × 0.03 = $10,200. To solve this, multiply the relevant values: $340,000 at 3%.. The correct answer is $10,200.. This is a common calculation on the Illinois real estate exam.
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